Nio Stock News: NIO shares rally as China promotes private investment

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• Chinese government signals support for clean energy, transportation, economy.
• Nio stock added 10.9% on Monday to reach highest level since February.
• Hang Seng index spikes 4.1% on Tuesday in Hong Kong.
• NIO shares are trading above both the 50-day and 200-day SMAs.

Nio (NIO) stock launched another 5.8% higher to $12.41 at the start of trading on Tuesday, then retraced to the round $12 level at the time of writing. Nio bulls appear intent on giving back none of the electric vehicle stock’s 10.9% rally from Monday, which pushed the company to its highest price range since February. Nio shares are up after the Chinese central government announced it is looking for further policies to support clean energy and transportation.